It's done! After all the rumors that it might happen.

In an exclusive interview with Nancy O'Dell, Arsenio Hall revealed that he IS returning to late night TV with a new talk show.

And the crowd goes wild!

But you'll have to wait until the Fall of 2013. It'll be on CBS.

Who would his dream first guests be? Jay-Z, Beyonce and the baby.

Who would he love to have as his first musical guest? Eminem.

But to give a bit further background on the new talk show, the syndicated late night talk show will be produced by CBS Television Distribution and Tribune Entertainment targeting a 11PM time slot (10 PM Central) with key markets in New York, Chicago and L.A, already on board.

The as yet untitled program (Arsenio perhaps?) will be carried in other cities such as Boston, San Francisco, Atlanta, Detroit and Pittsburgh on CBS CW network affiliates. Already the show has been sold to TV stations covering over 50%  the country

But what's even more interesting is that the show is intentionally focusing on attracting multi-racial, older viewers from 35-54. Networks execs believe that that audience is being underserved and the most available.

According to Sean Compton, Tribune Broadcasting presdient of progamming and entertainment, "We can't shy away from it. Forty, 45, 50 – those are the sweet spot of our demos. We can get caught up in trying to be hip and fresh, when in really 45 is not old. And these are the people who still watch traditional TV and have traditional viewing habits."

He futher continued: "These viewers have found memories of Arsenio and of him as a personality. Why wouldn't we want to bring him back?"

As a TV analyst was also quoted about the show that she sees "an opening for a reconstituted Hall to click with multiculturial audiences in a big way than network or cable latenight fare. There's an opportunity there. He's someone who can appeal to a multiculturial audience and can gave a different favor to latenight."